Episode #193 // A lot of businesses are finding it extremely challenging to operate in the volatility of a hot labor market. Despite the hundreds of podcasts, blogs, and articles that are published daily about The Great Resignation, there doesn’t seem to be an oversupply of solutions (other than the vague notion that you need to focus on your people and keep them happy in order to retain them). In many cases, “keep them happy” equates to “pay them more”. This can have significant consequences for many businesses, which are forced to either raise their prices, or cut their margins. It can be a pretty tricky game to play and, for many smaller businesses, you may find yourself one bad decision away from a death spiral. In this Q&A episode, we answer a few listener questions that focus on specific aspects of the hot labor market. We cover the bonus culture, and people’s expectations for financial rewards; we look at the increasing number of situations where people who’ve left your business want to return; and we talk about how to leave the door open for your top performers if they do choose to leave. See acast.com/privacy for privacy and opt-out information.